Please. Count me alongside Ryan Avent in his swing at Simon Johnson and James Kwak:

There is obviously a risk that when conditions improve the impetus for reform will be lost. But I think there’s a pretty substantial window in which reform can take place. It’s more important to do regulatory reform right than to do it quickly. I don’t see a vague concern that in the next year anger at and worries about the banking system will evaporate as a good reason to undertake a tricky and risky nationalization now.

I have learned to judge Obama from the long view. And I bet banking regulation will be a lot tighter at the end of this first term than at the beginning.


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